Newconomics 2023 - Meet our Speakers: Javier Garcia de la Torre
It’s nearly time for the Newconomics event in Lisbon where web3 experts from around the world will be gathering to discuss future economics, how the world of work can be improved and where we might be going next with blockchain. One such expert is Javier Garcia de la Torre, Country manager of Binance for Spain and Portugal. He kindly shared his thoughts on web3 futures.
“While the internet (Web2) revolutionised the transfer of information, Web3 is the technology that is revolutionising the transfer of value. The biggest opportunities are often found in the emergence of new and disruptive technologies. Web3, the next generation of the internet, is such an opportunity.
At the most basic level, Web3 would give the power back to users and creators using decentralised blockchain networks. So rather than a few large companies owning the platforms, users would own and maintain the platforms and apps, with all the information published on the public ledger of the blockchain. It has the potential to be revolutionary.
Aligned with our mission at Binance, to provide freedom of money, we believe Web3 technologies hold immense potential for expanding financial inclusion, especially in underserved communities and emerging markets. By reducing barriers to entry and providing ownership and control over digital assets, Web3 can empower individuals who lack access to traditional banking services. These technologies facilitate borderless, cost-effective transactions, microfinance, and peer-to-peer lending, which play an essential role in economic empowerment, especially in these regions.
While finance has been among the first sectors to harness the potential of Web3 technology, its applications extend far beyond. The opportunities are abundant and thrilling. As Web3 comes into contact with different spaces and emerging technologies, new use cases will arise.
Despite its potential, Web3 technology is still in its infancy, which poses certain limitations to both its entry and also widespread adoption. Currently, most public blockchains face issues related to slow transaction speeds and high fees, which can hinder the usability of Web3 applications. Additionally, regulatory uncertainty creates obstacles for businesses looking to operate within the Web3 space.
Moreover, the onboarding process of Web3 technology needs to become more user-friendly and education is also crucial, as many individuals are still unfamiliar with how Web3 technologies work, which can create a barrier to entry.
But there are many good things to look forward to. The increased focus on skills and knowledge-based work means that lifelong learning and personal development will become central to career success. Technology can help bridge the skills gap through accessible, more tailor-made, and effective online education and training, ensuring that people are equipped for the jobs of the future.
As a remote-first company since its inception, Binance has given its workforce the opportunity to experience greater flexibility and personalization in one's career.
With technology enabling remote work, and the ability to work from anywhere, people can tailor their work to suit their lifestyles and needs, while companies get access to a pool of borderless talent. The integration of AI and automation can streamline processes, making work more efficient and potentially reducing the burden of repetitive tasks. Additionally, the increased focus on skills and knowledge-based work means that lifelong learning and personal development will become central to career success.
Binance has experienced firsthand the benefits of these technological advancements, enabling us to build from the ground a global and diverse workforce, with diverse skills and perspectives.”
Find out more about the new economics of Web3 and how it can change the way we work together at the Newconomics event in Lisbon. Full details and registration can be found on the website.